MORT vs. DBO
MORT (VanEck Mortgage REIT Income ETF) and DBO (Invesco DB Oil Fund) are both exchange-traded funds - MORT is a REIT fund tracking the MVIS US Mortgage REITs Index, while DBO is a Oil & Gas fund tracking the DBIQ Optimum Yield Crude Oil Index Excess Return. Both are passively managed. Over the past 10 years, MORT returned 1.76%/yr vs 11.43%/yr for DBO. Their 0.16 correlation means their historical movements had little consistent relationship. MORT charges 0.43%/yr vs 0.78%/yr for DBO.
Performance
MORT vs. DBO - Performance Comparison
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Returns By Period
In the year-to-date period, MORT achieves a 0.24% return, which is significantly lower than DBO's 66.72% return. Over the past 10 years, MORT has underperformed DBO with an annualized return of 1.76%, while DBO has yielded a comparatively higher 11.43% annualized return.
MORT
- 1D
- 0.83%
- 1M
- -1.61%
- 6M
- -1.81%
- YTD
- 0.24%
- 1Y
- 7.47%
- 3Y*
- 5.65%
- 5Y*
- -0.99%
- 10Y*
- 1.76%
- ALL TIME*
- 4.07%
DBO
- 1D
- -5.53%
- 1M
- 17.71%
- 6M
- 53.16%
- YTD
- 66.72%
- 1Y
- 51.44%
- 3Y*
- 12.33%
- 5Y*
- 13.64%
- 10Y*
- 11.43%
- ALL TIME*
- 0.22%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $11.34M | $10.71M | $13.49M | |
| $11.29M | $14.10M | $10.03M |
MORT vs. DBO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MORT VanEck Mortgage REIT Income ETF | 0.24% | 12.17% | 0.14% | 14.74% | -26.92% | 15.95% | -22.39% | 21.26% | -4.45% | 18.88% |
DBO Invesco DB Oil Fund | 66.72% | -11.71% | 7.85% | -4.44% | 13.04% | 60.74% | -20.99% | 28.05% | -15.22% | 4.86% |
Correlation
The correlation between MORT and DBO is -0.29, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.29 |
Correlation (3Y) Balances recent behavior with more history. | -0.08 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.07 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.11 |
Correlation (All Time) Calculated using the full available price history since Aug 17, 2011 | 0.16 |
The correlation between MORT and DBO shifts across timeframes, from -0.29 (1 year) to 0.16 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
MORT vs. DBO — Risk / Return Rank
MORT
DBO
MORT vs. DBO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Mortgage REIT Income ETF (MORT) and Invesco DB Oil Fund (DBO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| MORT | DBO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.89 | ||
| Sortino ratioReturn per unit of downside risk | -1.20 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.23 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 0.53 | 1.86 | -1.34 |
| Martin ratioReturn relative to average drawdown | 1.27 | 5.64 | -4.38 |
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Drawdowns
MORT vs. DBO - Drawdown Comparison
The maximum MORT drawdown since its inception was -70.13%, smaller than the maximum DBO drawdown of -90.18%. Use the drawdown chart below to compare losses from any high point for MORT and DBO.
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Drawdown Indicators
| MORT | DBO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.13% | -90.18% | +20.05% |
Max Drawdown (1Y)Largest decline over 1 year | -14.27% | -27.73% | +13.46% |
Max Drawdown (3Y)Largest decline over 3 years | -19.93% | -28.20% | +8.27% |
Max Drawdown (5Y)Largest decline over 5 years | -42.48% | -37.68% | -4.80% |
Max Drawdown (10Y)Largest decline over 10 years | -70.13% | -61.69% | -8.44% |
Current DrawdownCurrent decline from peak | -21.42% | -56.13% | +34.71% |
Average DrawdownAverage peak-to-trough decline | -15.37% | -62.20% | +46.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.90% | 9.16% | -3.26% |
Volatility
MORT vs. DBO - Volatility Comparison
The current volatility for VanEck Mortgage REIT Income ETF (MORT) is 5.04%, while Invesco DB Oil Fund (DBO) has a volatility of 18.99%. This indicates that MORT experiences smaller price fluctuations and is considered to be less risky than DBO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MORT | DBO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.04% | 18.99% | -13.95% |
Volatility (6M)Calculated over the trailing 6-month period | 12.40% | 34.30% | -21.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.98% | 38.86% | -21.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.59% | 33.43% | -9.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.89% | 32.24% | -3.35% |
MORT vs. DBO - Expense Ratio Comparison
MORT has a 0.43% expense ratio, which is lower than DBO's 0.78% expense ratio.
Dividends
MORT vs. DBO - Dividend Comparison
MORT's dividend yield for the trailing twelve months is around 15.23%, more than DBO's 2.11% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DBO Invesco DB Oil Fund | 2.11% | 3.51% | 4.68% | 4.59% | 0.66% | 0.00% | 0.00% | 1.63% | 1.58% | 0.00% | 0.00% | 0.00% |
MORT VanEck Mortgage REIT Income ETF | 15.23% | 12.76% | 11.55% | 12.18% | 13.09% | 8.21% | 8.11% | 7.36% | 8.19% | 7.82% | 8.21% | 9.91% |
Frequently Asked Questions
MORT and DBO have a correlation of -0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DBO has higher volatility (18.99%) compared to MORT (5.04%). In terms of maximum drawdown, MORT dropped -70.13% vs DBO's -90.18%.
On 10-year performance, DBO leads with 11.43% vs 1.76% for MORT. On fees, MORT is cheaper at 0.43% per year. On volatility, MORT has been the lower-risk option at 5.04%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, DBO has performed better with a 11.43% return vs 1.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MORT is cheaper with a 0.43% expense ratio, compared with 0.78% for DBO.
MORT has the higher dividend yield at 15.23%, compared with 2.11% for DBO.
MORT is categorized as REIT, while DBO is Oil & Gas. MORT tracks MVIS US Mortgage REITs Index, while DBO tracks DBIQ Optimum Yield Crude Oil Index Excess Return. They also come from different issuers: VanEck and Invesco. Their fees differ too: 0.43% for MORT and 0.78% for DBO.
DBO currently has the higher Sharpe Ratio (1.33 vs 0.44), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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